🔴 Technology ETF (IYW) is trading 2.74% down in pre-market as elevated yields pressure tech shares

IYW is trading at $264.08, down 2.74%, as elevated Treasury yields and renewed Middle East tensions pressure risk assets and interest-rate-sensitive technology shares.

• On October 7, the 10-year yield reached 5.35%, near its highest level since 2002.
• Brent crude topped $101 amid Strait of Hormuz concerns.
• The move appears part of a broader risk-off session: Nasdaq futures are down 0.56%, with U.S. initial jobless claims due at 12:30 PM ET.